Diamond Bank Plc, a leading commercial Bank in the country has received the ‘Financial Institution of the Year’ award from the Petroleum Technology Association of Nigeria (PETAN).
The award which was presented by the association during the recent 2013 PETAN Industry Achievement Awards in Lagos was in recognition of Diamond Bank’s support for various indigenous Oil and Gas companies in the country.
PETAN is a non-profit organization whose members are Nigerian Oil Service Companies operating in the Upstream and Downstream technical services sectors of the Nigerian Oil and Gas Industry. Top on its agenda is to promote the domestication of petroleum technology by striving for fair and extensive patronage of the efficient and competitive indigenous Nigerian Oilfield Service companies.
According to Mr. Emeka Ene, Chairman of PETAN, Diamond Bank’s award as the financial institution of the year was an unprecedented feat which is a testimony to its funding support to local companies.
Ene noted that after a survey of all the commercial banks in the country, Diamond Bank emerged as the most consistent bank in the support of indigenous companies in the oil and gas sector of the economy.
Speaking to newsmen at the event, the Group Managing Director/Chief Executive Officer, Diamond Bank Plc, Dr. Alex Otti, represented by Head, Infrastructure and Transport, Diamond Bank Plc, Mr. Ehianeta Ebhohimhen, ascribed the award to the Bank’s well defined operating strategy, the commitment of the employees and adherence to values that include hard work, discipline, a passion for excellence and a service-focused culture.
Otti noted that the award was a further demonstration of the Bank’s commitment to grow the economy and a positive indication that the Nigerian public was appreciative of the Bank’s activities.
He also expressed his deep appreciation for the recognition and pledged his organization’s continued support for the local content initiative.
Also, Head, Energy of Diamond Bank Plc, Mr. Luqman Agboola, said the Bank has done a lot to support the Nigeria indigenous companies in the Oil and Gas sector.
He said: “As a matter of fact, indigenous companies account for 90 per cent of our loan portfolio in Diamond. One thing that sets us apart in Diamond is that we have the people that understand the industry, and because of that we crave to add value to the economy. Winning the award shows that members of PETAN appreciate what we were doing to support the Oil and Gas industry. We are excited at receiving this award and we will continue to do more do develop our Oil and Gas industry in the future.”
It would also be recalled that Diamond Bank has won the award for the Best Oil and Gas Investment Company in Africa by World Finance Magazine for the second year in a row.